Draw parallel lines on the spout containing side of the carton as shown in the pic below, on the parallel side of the carton draw the same.

Draw lines as shown below on the other two walls of the carton

Cut along the lines drawn to get the Walls, Roof supports and Roof of the Water Well.

Decorate the well with construction paper. Punch holes on the roof supports and insert ends of the pencil/stick into them.

The working model uses a bucket and pulley system to extract water.

Make a bucket out of the bottle cap/toothpaste cap. Punch two holes on the sides of the cap and insert the wire handle. Attach one end of the thick thread to the bucket and tie other end of the thread around the pencil/stick. Now you can pour water into the well and the water can be drawn by using the bucket.